Media, often chastised for their slow recognition of the impact of technology, is now embracing the digital world and rapidly reinventing its business. That was the theme shared by a panel of media representatives at DCWEEK yesterday. A case in point offered by Angie Goff, with NBC Washington: she raised eyebrows from bosses two years ago when she solicited input from viewers through Twitter, but now it is the station that actively promotes her Twitter handle on-screen while she broadcasts.
Insights from the panelists on the state of media today in a digital world:
• Angie Goff, NBC Washington, on Crowdsourcing: “What people like drives our news content. Whether a journalist or not, everyone has a voice. We are crowdsourcing with people that know more than journalists. We make people feel like they have a piece of the news. I’m surprised that more news outlets don’t have social media reporters that sort through content and data.”
• Vijay Ravindran, Washington Post, on Audience-Building: “Moving from a general content provider to a specific content provider is challenging. You have to know what you are best at and you need a concentrated strategy. We are for Washington and about Washington, we are not a national paper of record.”
• Susan Poulton, National Geographic, on Quality Journalism: “As we opened up to other audiences, some at NatGeo worried whether the quality of photos and the quality of writing would be the same. What we found was that the level of curation was raised by attaching the NatGeo brand and some of the photos submitted were just absolutely amazing.”
• Vijay Ravindran, Washington Post, on Monetization: “Everyone has been focused on building audiences and there has not been much innovation around monetization. There will be a flood of innovation surrounding monetizing original content or it will get smaller and smaller. Those are the only two options. The key for the music business when it went digital was to own the total experience not just the music.”
• Angie Goff, NBC Washington, on Content Creation: “More than ever now, there is a need for constant content. We don’t care where it comes from, but the key is making it relevant and something our users have shown an interest in. We don’t want to be a commercial.”
Recently I gave a talk at SMU (Singapore Management University) on the future of social media and its impact on businesses. Here is a blog post by Michael Netzley on the talk.
In a nutshell, I see 4 key drivers that will shape the way we work: Enterprise 2.0, Mobile, Content and Video, and finally Crowdsourcing. All of them are related in one way or another.
If you think that only 10 years ago we were dealing with Y2K, that Google was just one and a half years old, that we were excited by the first USB flash drive… We can only imagine what’s ahead, in the next 10 years.